A whole new era for Cumulus Media shares commenced this week as the old “CMLS” ticker symbol roared back to life on Nasdaq.
On Friday, Cumulus enjoyed a 8.9% gain on low volume of 9,621 shares. As a result, Cumulus shares start Monday’s trading at $19.60.
In other activity on Wall Street:
- Digital revenue may have eclipsed that of radio in Q2 for Entravision, but investors are pleased, with EVC rising 20 cents to $4.65.
- Entercom shares were off 10 cents, to $7.05.
- Nielsen shares slid to $21.99, a 58-cent dip, but in early after-hours trading recovered to $22.19. Still, Nielsen shares are battling a 10-year low. The latest challenge for Nielsen is an investigation by three law firms of company officers’ possible violations of federal securities laws.
- Sinclair Broadcast Group shares were up 30 cents to $25.75 as The Hill, a Capitol Hill news publication, reported that the company hired five Republican lobbyists from the S-3 Group in late July to help in its fight to avoid a hearing designation order for its proposed merger with Tribune Media.